Asked by Huh, huh • Mon Sep 24, 2007
I'm ready to look for a fixer-upper in Cambridge, MA, where the market is full of new renovations and there are not many places 'in need of some tlc' left. Prices of new renovations are coming down. I'm thinking of the purchase in part as a long-term investment and wondering how to decide: buy one where someone else has done the work and hold it until the values go back up, or buy one on which I do the work and hope the renovation adds enough value to justify it. Any guidelines out there? opinions? What does the price delta need to look like?
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